Super pit deal falls through

The Chinese company angling to buy a 50 per cent stake in the Kalgoorlie super pit has reportedly dropped the $US1.3 billion bid due to more rigid Chinese controls on capital outflows, while its bid to buy Southern Cross gold mine owner Hanking Australia has been completed.

Shanghai-listed Shandong Tyan Home Co made the announcement overnight, according to Bloomberg, about nine months after Canada-based Barrick Gold announced plans to sell its half share of the gold mine.

The remaining 50 per cent of the super pit is owned by US-based Newmont Mining.


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Annual production

1st-Newmont Mining1,150
2nd-Gold Fields978
3rd-Northern Star Resources558
4th-AngloGold Ashanti528
5th-Newcrest Mining462
28 gold miners ranked by annual production to june 30, 2016 ('000 ounces)

Number of Employees

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